St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-01-25

projects as a useless expense. and are pre-
vented from asking the council not to issue
bonds for the Franklin avenue bridge only
because it is too late for such petition To
be considered. They therefore, each in
turn. regret that the bridges must be. and
the disinterested listener is led to wonder
why their regret was so long concealed. and
why such lively interest is displayed at so
late a day. This as to the majority of
the board. Several of the gentlemen sup
ported both bridge prospects, and are thus
consistent. The committee on city affairs
reported on a resolution protesting against
the building of bridge at Franklin avenue,
recommending that the resolution be tabled.
Mr. Mind, the chairman of the committee,
said that the members were personally
against the building of the bridge, but as
the council and the Hennepin delegation in
the legislature had both approved the
measure, the committee thought best that
the board should say nothing on the sub
ject. The report called forth considerable
discussion. anu the prevalent opinion of
those opposing bridges seemed to be that
the majority of the taxpayers did not desire
the bridge to be built at the present time.
and the sale Of bridge bonds would tend to
lower the excellent credit of the civ in
Eastern money markets.
President AtWater said that while the
city could get on for two years without
bridge in South Minneapolis he regarded 1t
a rank injustice to approve the North Min
neapolis bridge, and the board has not OPP
posed that measure. and at the same time
oppose the one in the south part of the city.
Mai. Bassett defended the North Mime
apolis bridge. but said that the eastern end
of the Franklin avenue crossing simply
opened Tito st. Paul. and the major did
not see the benefit of such union.
Judge Fish said that it was simply useless
to reSolute on the subject now. 1t the
board had expressed its views last spring,
or before the election. when such an eX-
preston might have had some effect, the
result might have been effective, but now
the opinion OF the board will have no effect
on the authorities. as both the council and
the members of the legislature are unani-
mouSly in favor of the bridges. Thereport
of the committee was adopted and the
bridges were buried.
a project for the establishment of hat
mandatory in the city was referred to the
committee on manufactures
Judge Fish presented resolution recon-
mending revision of the law, so that here
after all powers given by agents to owners
of real estate for transferring property
must be conferred in writing, and all ver-
bal authority hereafter given shall be void.
The committee on legislation Will draft
bill embodying the above idea and present
it to the Legislature at once.
Capt. Reno offered a resolution looking
to the building Of the Franklin avenue
bridge in such a way as not to interfere
with navigation, which was adopted.
The following resolution, offered by Z. S.
COrSer, was passed unanimously:
Resolved. That the board of trade views
with apprehension the issuing of city bonds
to the extreme 5 per cent. limit permitted.
because of the fact that Il large increase of
bonded debt will inevitably lower the credit
of the city.
The resolution was not in the above form
when introduced, but after 4 lengthy dis
cussion Mr.. Corser withdrew the objection
able feature.
e. j. Phelps called the attention of the
board to bill introduced i'll the legislature
by lgnatius Donnelly, providing that any
higher rate of interest than per cent.
shall be considered usury. Mr.. Phelps con-
demned the bill as being most pernicious to
the interests of the agricultural classes for
whose benefit Mr.. Donnelly intended it. He
said that Eastern money men will not place
loans on farms for less than or s per cent.
and that agents could not afford to handle
the money on rural security for l per cent
DonnellyS bill merely meant that agents
would be compelled to charge borrowers
commission OF would drive money to other
states and thus cause great Stringency in
the money market. Mr.. Phelps asked the
individual members of the board to oppose
the measure.